David Tice - Trees Don’t Grow to the Sky – The Fed will Lose the Confidence of the Market at Some Point

David Tice, of Tice Capital and formerly the Prudent Bear Fund says that quantitative easing is not a long term growth strategy.  He says the Fed has engineered a “nice recovery,” but “trees don’t grow to the sky.”  Tice is not yet getting short the market … he’s playing gold bullion and gold stocks for now, saying gold represents an unusually attractive opportunity. "I've never been more confident of anything in my life," he said, referring to gold bullion.   

Tice sees a period ahead of "extreme turmoil" and expects there will be a 30% to 60% decline for equities.  Although if Tice gave a hint of timing we failed to catch it, he was crystal clear on the message he wanted to convey:   “I don’t think this (end to QE and the Fed manipulation of interest rates and markets) ends well,” he warns.  Video below.  About 3 minutes.  Worthwhile to share.

Source:  CNBC  

http://video.cnbc.com/gallery/?video=3000306070&play=1 
 

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Gold - Mining Shares Divergence Looking Like a Tell

HOUSTON – (Got Gold Report) – When we consider how strong the U.S. Dollar Index has been and then look at how gold has held close to the $1300 level, more or less (only testing $1270 thus far), and then when we look at the action in some of the mining shares indices, like the Market Vectors Junior Gold Miners Index ETF or GDXJ, which has doggedly held near the top of its trading range after putting in what looks a lot like an inverted head and shoulders bottom with a very wide base, well, it is starting to look a lot like a “Tell.”  

USDX

20140826 USDX weak euro

(More...)

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Koos Jansen - Chinese Gold Demand 1163 MT YTD. Silver Surprise

Jansen KoosKoos Jansen writes for BullionStar.com and is a keen observer of the Chinese market for precious metals.  He begins... Withdrawals from the Shanghai Gold Exchange (SGE), which equal Chinese wholesale demand, accounted for 35 metric tonnes in week 33 (August 4 – 8). Up 7.25 % w/w, additionally the largest amount withdrawn in 8 weeks. Year to date 1163 tonnes have been withdrawn, for which I estimate 723 tonnes had to be net imported into the mainland. ...

 

For the full report:  BullionStar.com   

GGR comment:  What a shame the people of China have a 17% "State Premium" to make up if buying silver bullion.  Government taking a "rake" from precious metals ought to be cause for public outcry and revolt.  It ought to be, but people are just too complacent these days.  Perhaps it will be such a cause again some day when people wake up and realize what the politicians have done to their savings and currency.  A storm is coming.  Got Gold?  Got silver?   

 

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James Grant on Bubbles, Bargains and Everything in Between

A worthy video below as Steve Forbes interviews James Grant on bubbles, bargains and everything in between.  Video, about 34 minutes.  Best viewed on Page 2.  (Click on the title of this piece or at the lowest link below for it.)

 

Thanks to GGR patron D.S. for the link. 

The Daily Reckoning

http://dailyreckoning.com/james-grant-on-bubbles-bargains-and-everything-in-between/ 

 Click on the link just below for Page 2. 

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Equities Reach Record $66 Trillion as S&P 500 Hits 2,000

Yellen w Draghi Jackson Hole 2014Inyoung Hwang writes for Bloomberg.  // Rallies from Brazil to Japan and the Standard & Poor’s 500 Index’s first trip above 2,000 sent the value of global equities to a record $66 trillion.

Shares worldwide added more than $2.2 trillion in value since Aug. 7, according to data compiled by Bloomberg. Optimism that central banks will support economic growth sent the MSCI All-Country World Index up 3.8 percent from its low this month. The S&P 500 has risen for 10 of the last 13 days and the Nasdaq Composite Index is about 10 percent from an all-time high.

Global markets are surmounting crises in Ukraine, the Gaza Strip and Iraq as investors renew bets that stimulus will revive growth. The Stoxx Europe 600 Index posted its biggest two-day gain since April after European Central Bank President Mario Draghi signaled policy makers may consider introducing an asset-buying plan. Japan’s Topix index is near its highest level since January, rebounding from losses earlier this year.  (Image:  Janet Yellen, chair of the U.S. Federal Reserve, left, speaks with Mario Draghi, president of the European Central Bank, during the Jackson Hole economic symposium. Photographer: Bradly Boner/Bloomberg)

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Politics - IRS lawyer: Lois Lerner's Blackberry deliberately destroyed after start of congressional probe

Doug McKelway reports for Fox News.   Lois Lerner’s Blackberry was intentionally destroyed after Congress had begun its probe into IRS targeting of conservative groups, a senior IRS lawyer acknowledged in a sworn declaration.

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Maureen Dowd - The Golf Address

Dowd MaureenNothing to do directly with gold or silver, but it makes the cut of things we would be willing to spend time reading, so here it is.  Maureen Dowd writes for the New York Times, et al.  She is nearly always worthy of our time.  She begins this wonderful piece: 

FORE! Score? And seven trillion rounds ago, our forecaddies brought forth on this continent a new playground, conceived by Robert Trent Jones, and dedicated to the proposition that all men are created equal when it comes to spending as much time on the links as possible — even when it seems totally inappropriate, like moments after making a solemn statement condemning the grisly murder of a 40-year-old American journalist beheaded by ISIL.

I know reporters didn’t get a chance to ask questions, but I had to bounce. I had a 1 p.m. tee time at Vineyard Golf Club with Alonzo Mourning and a part-owner of the Boston Celtics. Hillary and I agreed when we partied with Vernon Jordan up here, hanging out with celebrities and rich folks is fun.

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Clive Maund - Will the US Succeed in Breaking Russia to Maintain Dollar Hegemony?

Putin w large binocularsFirst a tip of the hat to Chris Powell for calling attention to the piece below.  Clive Maund is an independent technical analyst who writes for his own blog CliveMaund.com . He begins this must-read essay:  In Why they are making an enemy of Russia? we looked at two of the key reasons why the US is making an enemy of Russia, namely the promotion of conflict by the powerful Defense industry lobby in order to keep its order books full, and the value of conjuring up an external enemy as a hate figure for the masses, in order to take the heat off the government. In this article we are going to look at what is arguably an even bigger reason, that was largely omitted in the earlier article, which is that Russia, in alliance with China, is threatening to bring an end to the dollar as the global reserve currency, which would mean the end of the American empire.

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Wednesday, August 27, 2014

The Matterhorn London Interviews – Aug 2014: Alasdair Macleod

The Gold Switzerland set up for the video below reads: The three biggest reasons to invest in gold...Video interview:In this 2nd of a series of London interviews that Lars Schall conducted for Matterhorn Asset Management this summer, Lars has a City of London streetside conversation with Alasdair Macleod right outside the Dutch reform Church in Austin Friars near the Bank of England. Together they talked about, inter alia: the challenges for The London Bullion Market Association (LBMA);

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Stockman - Bombs Away! Washington Has Gone Stark Raving Mad

David Stockman writes for his own blog, David Stockmans Contra Corner. He begins: America’s spanker-in-chief is at it again—threatening to bomb Syria owing to the uncivilized actions of its inhabitants. And when it comes to Syria,Washington aversthat there are punishable malefactors virtuallyeverywhere within its borders. Exactly one year ago Obama proposed to take Bashir Assad to the woodshed because he had allegedly unleashed a viciouschemical attack on his own citizens. That was all pretext, of course, because

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Endeavour Silver Drilling Continues to Intersect High Grade Silver-Gold Mineralization in Terronera Vein at San Sebastian Project, Jalisco, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 27, 2014) - Endeavour Silver Corp. (NYSE:EXK)(TSX:EDR) announces that exploration drilling at the San Sebastián project in Jalisco State, Mexico continues to intersect high grade, silver-gold mineralization in the Terronera vein system. The main mineralized zone now extends over 1,400 metres (m) in length, still wide open along strike and to some extent down dip. Drilling highlights to date this year from the Terronera vein include 126 grams per tonne (gpt) silver

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Fortuna Silver Reports Updated Mineral Resource Estimate for San Jose Mine in Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 27, 2014) - Fortuna Silver Mines Inc. (NYSE:FSM)(TSX:FVI)(BVLAC:FVI)(FRANKFURT:F4S) is pleased to announce an updated Mineral Resource estimate as of June 30, 2014 for the San Jose Mine located in Oaxaca, Mexico. Included in the San Jose mineral resources is an updated estimate of the Mineral Resource for the Trinidad North discovery based on the completion of forty-one additional step-out and twelve infill drill holes in the Trinidad North area. Highlights of Mineral

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CNBC - This central bank may be calling bond yields for now

Leslie Shaffer reports for CNBC. Market-watchers are parsing the Federal Reserves every word for clues about where bond yields are headed, but the European Central Bank (ECB) may be in the drivers seat. Monetary policy development in the euro zone remains a critical factor in projecting the forward path of global long-term bond yields, especially since quantitative easing appears forthcoming, DBS said in a note Wednesday. It noted that global 10-year government bond yields have largely trended

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Tuesday, August 26, 2014

GATA - State Department agrees to try looking for gold records again

Please support GATA and consider the message contained in the link just below. Thank you. State Department agrees to try looking for gold records again... GATA http://www.gata.org/node/14375

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Macleod - SCO and Mackinder’s Prophecy

Alisdair Macleod writes for GoldMoney.com. He begins:There will be a defining geopolitical event next month when India, Pakistan, Iran and Mongolia become full members of the Shanghai Cooperation Organisation (SCO). This will increase the population of SCO members to an estimated 3.05 billion. We should care about this because it is the intention of the SCO to do away with the US dollar for trade settlement.

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ATAC Resources Intersects 30.79 m of 9.50 g/t Gold at Conrad, Rackla Gold Project-Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 26, 2014) - ATAC Resources Ltd. (ATAC) (TSX VENTURE:ATC) is pleased to announce initial results from its ongoing 2014 exploration program. The following results are from drilling and surface work at the Conrad, Sunrise and Anubis Zones, all located within the Nadaleen Trend at the eastern end of ATACs 100% owned 1,700 sq/km Rackla Gold Project in central Yukon.

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Third Drill Rig Arrives in French Guiana for Drilling at Columbus Gold's Paul Isnard Project

VANCOUVER, BRITISH COLUMBIA, Aug 26, 2014 (Marketwired via COMTEX) -- Columbus Gold Corporation (CGT) (Columbus Gold) is pleased to report that a third drill rig has arrived in French Guiana and cleared customs. The rig is being mobilized to Columbus Golds Montagne dOr gold deposit, Paul Isnard Project, and is expected to commence operating on a 24 hour basis in due course. There are approximately 15,000 metres remaining in the current Phase II program, which on deployment

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Banks Island Gold Ltd. Provides Update on Commissioning of Grinding and Flotation Circuits

Production of Flotation Concentrate commenced at Yellow Giant - Gold Recovery currently estimated at +90%. - Current mill throughput at 100tpd with plans to increase to 200tpd over coming weeks...

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Asanko Gold Eliminates 2% NSR Royalty

Vancouver, British Columbia, August 26, 2014 -- Asanko Gold Inc. (Asanko or the Company) (TSX, NYSE MKT: AKG) announces that it has entered into a settlement agreement (Agreement) with a private Ghanaian company, Goknet Mining Company (Goknet), to eliminate Goknets claim for a 2% net smelter return (NSR) royalty on Phase 1 of the Companys flagship Asanko Gold Mine Project (AGM or the Project).

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UPDATE 1-U.S. court scraps order to seize Kurdish crude from tanker near Texas

Terry WadeandAnna Driverwriting for Reuters: Aug 25 (Reuters) - A U.S. court on Monday threw out an order to seize some 1 million barrels of disputed Iraqi Kurdishcrude oilfrom a tanker near Texas, a move that could allow the cargo to be delivered and end a nearly month-long impasse.

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Monday, August 25, 2014

Up One More Notch on the Bid for Millrock

Up One More Notch on the Bid for Millrock, as shown,(until we max out on shares). Sellers have dried up and shares have become a little more precious.

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Kamikaze Seller on Goldquest hits our Stinker Bid

A large freaky seller shows on GoldQuest (GQC.V) and ends up selling into our $0.20 stinker this Monday. So far the seller has dumped 341K shares as of 15:30 through Anon, House 001. We took our share of the spoils as shown. Of course everyone should study the issues carefully and decide for themselves if they even want a piece of GQC!

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CIBC Confirms Pretivm's Resources, Reserves Estimates At Brucejack

Alex Létourneau reports for Kitco News. On a recent site visit to Pretivm Resources Inc.’s (TSX:PVG) Brucejack project in British Columbia, analysts from Canadian bank CIBC say they liked what they saw and that estimates are in line with Pretivm’s reporting. “Overall, we came away confident from the trip from the standpoint that the underground review of veining and mineralization appeared to largely confirm the interpretations made by Pretivm in its resource/reserve estimates,” they say.

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Ampio Pharma (AMPE) Addresses Common Concerns of STEP Study, Ampion Plans

(Another hopeful drug company working on a drug for the relief of OA. Whereas Intermune is victorious today, Ampion has stubbed its toe with botched shipping of the drug used in a trial. It calls to mind the opening of the old TV showABCs Wide World of Sports ... The Thrill of Victory ... and the Agony of Defeat.) Ampio Pharma (NYSE: AMPE) is issuing this response to the most commonly asked questions in regards to the

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New PEA for Paramount Gold’s San Miguel Project Confirms Robust Combination of Heap Leaching and Milling

Low Initial Capital of $69 Million and Low Operating Costs Generate Exceptional Economics Quick Payback of Initial Capital in 3rd Year of Production Estimated Average Annual Production of 55,000 ozs. Gold and 2.8 Million ozs. Silver for 17 Years Estimated Base Case Pre-Tax NPV of US$472.6 Million at a 5% Discount Rate and IRR of 23.2% August 25, 2014 - Paramount Gold and Silver Corp. (NYSE/TSX:PZG) (Frankfurt: P6G WKN:A0HGKQ) (Paramount) announced today the results of a Preliminary

Continue reading "New PEA for Paramount Gold’s San Miguel Project Confirms Robust Combination of Heap Leaching and Milling" »

Roche Holding Agrees to Buy InterMune for $8.3 Billion

(Note: Of particular interest to people suffering from Pulmonary Fibrosis or PF, especially Idiopathic Pulmonary Fibrosis or IPF.) Michelle Fay Cortez and Phil Serafino report for Bloomberg.Roche Holding AG (ROG) agreed to buy InterMune Inc. (ITMN) for about $8.3 billion in cash, gaining access to what may be the first drug in the U.S. for a lung disease that can be fatal within five years of diagnosis.

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European Shares Lifted by Prospect of More ECB Stimulus

* Draghi comments raise expectations of more easing * Draghi offsets negative pressure from weak Ifo number * CAC up 0.9 pct in spite of French govt resignation * London stock market closed for public holiday * Euro STOXX 50 up 0.9 pct Sudip Kar-Guptareports for Reuters: LONDON, Aug 25 (Reuters) - European shares rose on Monday, as prospects of new stimulus measures from the European Central Bank enabled the regions stock markets to shrug off weak

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Gold/Silver Ratio Favorable for Gold Trade

If we had not already made our gold-for-silver trade for 2014earlier in the year then we would take advantage of the Gold/Silver Ratio (GSR) where it is nowto trade some gold for silver now or soon. See our contemporaneous comments along those lines in the graph itself.

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Sunday, August 24, 2014

Fed's Yellen calls for caution on rates; Draghi says ECB ready to act

From the Sydney Morning Herald: Reuters -- The Federal Reserve should move cautiously in deciding when to raise interest rates given the US labour market remains bruised from the Great Recession, Fed Chair Janet Yellen said on Friday amid calls from policy hawks for a near-term rate hike. In a speech at the Feds annual central bank conference, Yellen laid out in detail why she feels the unemployment rate alone is inadequate to evaluate the strength of

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Pento – Bonds Signaling Something all right, but not what Pundits Say

Michael Pento, Pento Portfolio Strategies, among other things, said: “Few commentators in the U.S. are willing to admit that plunging bond yields are signaling the same thing here as in the rest of the world, which is the inability of massive central bank money printing to engender real growth. These pundits have a myriad of other excuses to explain our low borrowing costs. But my favorite red herring is to attribute the cause of our plunging yields

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Saturday, August 23, 2014

Drill Results Expected for Constantine, We Up the Bid One More Notch for Millrock

Following the announcement by Constantine Metal Resources (CEM.V)of the addition of JOGMEC to the equity funding side, a big plus in our view as it spreads risk and shows confidence by a government organization in the Dowa/CEM efforts at Palmer, we are expecting drill results from the very high grade VMS (volcanogenic massive sulfide) deposit. Remember that the terrain is very challenging so it wont be surprising if they lost some of the holes before they hit

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Russell 2000 - Possible Signs of Distribution/Topping

The Russell 2000 Index of Small Caps is showing signs of a top or at the very least a pause. The signature suggests distribution has been underway since February. The $RUT is a barometer indicator at GGR and one thatwe think bears watching.

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If a Precious Metals Squeeze Develops Look to Swap Dealer Gold Positions as a Cause

Elsewhere we mentioned that if a squeeze got underway it likely would not be because of the overly large short positions held by Swap Dealers in silver futures. No, if a squeeze develops, it is more likely to be caused by the Swap Dealer positioning in gold futures. Consider the data table below as “Exhibit A”.

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Silver Swap Dealer Short Position Moderates - Squeeze Unlikely Now

Swap Dealer positioning in silver futures has moderated to the point where a squeeze is no longer likely. See the data table below.

Continue reading "Silver Swap Dealer Short Position Moderates - Squeeze Unlikely Now " »

Koos Jansen - India Imports 2559 MT Silver In 5 Months

Koos Jansen writes for BullionStar.com. He begins: Rupee comes from rūpya, a Sanskrit term for silver coin... While silver has been widely used asmoney in history, at the beginning of the 19th centurygold became the dominantmetal in trade. At the end of the 19th century centralbanks erupted around the world and began holding gold in reserve to back their currencies, the international monetary system in this period is known as theclassic gold standard. When the last remnants

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ECB's Mario Draghi Signals Departure From Austerity Focus

ECBs Mario Draghi Signals Departure From Austerity Focus. Brian Blackstone reports for the Wall Street Journal. European Central Bank President Mario Draghi on Friday signaled a departure from the austerity-focused mind-set that has dominated economic policy-making in the euro zone since the onset of the regions debt crisis nearly five years ago, as officials struggle with stagnant economies, weak prices and high unemployment. Speaking at the Federal Reserve Bank of Kansas Citys annual conference Jackson Hole, Wyo.,

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Hamilton - Gold Rising-Rate Fallacy

Gold has slid during this past week on mounting fears of interest-rate hikes. Between the latest FOMC meeting’s minutes and the Fed’s annual Jackson Hole Economic Policy Symposium, American futures speculators’ rising-rate phobias have been whipped into a fever pitch. They worry gold will be crushed when the Fed eventually starts normalizing rates. But history shatters this fallacy that rising rates are gold’s nemesis.

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No Catalyst to Sell Gold - Video

The kitco set up for the video below reads: Kitco News sits with ForexLives Adam Button following Fed chair Janet Yellen’s speech at Jackson Hole this morning to see what he thinks of her comments. “We were waiting so much, we just wanted one hawkish hint from Yellen,” he says. “And I don’t quite think she got there.” Looking at the gold market, Button says the metal saw a quick whipsaw but may be finally making a

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The Original
Vulture Speculator

Trading gold, silver and mining shares since 1980 with a focus on taking advantage of volatility extremes, Gene Arensberg analyses the markets through a basket of technical and fundamental indicators and shares his findings from time to time here at Got Gold Report. Mr. Arensberg has been quoted in the Wall Street Journal, Dow Jones MarketWatch, USA Today and dozens of other news organizations.

"I've been a huge fan of Gene and his amazing work for years..."

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